If you inherited a house in Springfield you might be asking; Should You Sell Your Inherited Estate House As-Is?
An “estate house” is one listed for sale by the estate of a deceased person. For the purposes of this blog post – and for your information if you are watching real estate listings – don’t confuse the term “estate for sale”, meaning landed property (like the Biltmore Estate), with an “estate house”, which can be any type of house being sold by the estate of a deceased person.
Estate houses are also called “inherited houses”. This is because when someone passes away; family members, heirs or next of kin usually inherit the house and assets through the probate process in Massachusetts.
If you are not familiar with the estate process here is a very short overview. When someone passes away with or without a will, all the person’s assets and debts are put into the legal possession of the “estate”. The estate is a temporary legal trust that executes the terms of the will, disposes of assets and settles debts, before transferring the remaining assets to the heirs. Real estate property may be sold by the estate to meet the terms of the will, or to settle debts, or it may eventually be transferred to the heir(s).
The cash needed to prepare an estate house for sale is normally whatever assets are in the estate – that is, whatever the deceased person left behind. You may be the executor handling the estate, or you may be working with an attorney or other executor.
- Have a real estate professional help you understand the local market for this house.What are recent sales prices for similar houses in various conditions, good and bad?
- How much cash does the estate have to prepare the house for sale? Are any of the heirs willing to chip in more?
- Is it worth it to put the cash of the estate and/or the heir(s) into the house to sell, or is it smarter to sell as-is, quickly and for cash, to a fix-and-flip company such as Hampden Homebuyers
- Fixing the house may be a long process requiring knowledgeable management of sub-contractors and many choices of what and how much to fix.
- Do you know what the building code requires, and what most benefits the house in this particular market? It is common for first-timers to put too much money into things that don’t improve marketability and overlook even small items that make an impression on home-shoppers.
- Expect hidden defects to emerge during the fixing-process– even large show-stoppers. There is no control over what it may ultimately cost to get the house into the condition you are targeting.
Selling quickly for CASH is frequently the best option, by far, to solve the financial and other problems of an estate house. Contact us today to sell Your Springfield house quickly. 413-248-7355
Get An Offer Today, Sell In A Matter Of Days...
Sell your Inherited Estate House to Hampden Homebuyers?
If you would like a fast as is sale consider selling your estate house to Hampden Homebuyers. We will make you a fair cash offer and close on your timeline.